Unlike many of the recent Fed meetings, Today’s meeting will feature only the FOMC’s decision and accompanying statement – but still the world is watching. Today’s interest rate decision will only be accompanied by their official statement regarding their decision. Traders and analysts are hoping for more guidance on the Fed’s plans regarding their bond buying program.https://support.fxcc.com/email/technical/31072013/

Upwards scenario: All supports and resistances remains the same today. Mark at 1.3273 (R1) acts as next resistive barrier on the way if the pair keeps it upside potential. Break here is required to achieve higher targets at 1.3288 (R2) and 1.3304 (R3) later on today. Downwards scenario: On the other side, depreciation below the support at 1.3247 (S1) might shift short-term tendency to the bearish side and validate our intraday targets at 1.3232 (S2) and 1.3217(S3).

Upwards scenario: Instrument gained momentum on the downside recently, turning short-term bias to the negative side. Though, upwards penetration above the resistance at 1.5252 (R1) might enable bullish forces and expose our initial targets at 1.5267 (R2) and 1.5282 (R3). Downwards scenario: On the other side, depreciation below the support barrier at 1.5215 (S1) might provide sufficient space for the recovery action. In such case we would suggest next intraday targets at 1.5205 (S2) and then 1.5186 (S3).

Upwards scenario: Possible volatility increase might commence new phase of downtrend extension either prolong retracement formation on the hourly chart frame. Price appreciation above the resistance at 98.23 (R1) would suggest intraday targets at 98.44 (R2) and 98.65 (R3). Downwards scenario: On the downside, next on tap is seen support level at 97.74 (S1). Clearance here is required to enable lower targets at 97.49 (S2) and 97.25 (S3)